The Gunners are long-term admirers of the Brazil international and they were initially keen on signing him from French side Lyon.

Guimaraes preferred to join the Magpies amid the Gunners' reluctance to pay the fee and he has transformed into a key player for them.

David Ornstein has now revealed that the Gunners continue to admire the midfielder and could realistically make a summer offer.

Eddie Howe 's side need to balance their financial books this summer and they may need around £100m from player sales before July.

Guimaraes has a £100m release clause in his contract, but the Gunners will be aiming to sign him for less amid Newcastle 's issues.

Real Madrid are also candidates to land the former Les Gones man, though they are likely to prioritise a centre-back and a striker.

Aside from Guimaraes, Arsenal have also been credited with an interest in signing striker Alexander Isak from the Tyneside outfit.

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